Fidelity sells British fund Duet stake for Sh1.9 billion

Fidelity Commercial Bank has agreed to sell a significant equity stake to British private equity and asset management firm Duet Group for Sh1.9 billion.

The third-tier bank ranked number 28 in the industry said the deal, which is subject to regulatory and other approvals, will see the bank’s capital base grow to over Sh3.8 billion.